Fidelity Names Bitcoin a Key Diversifier Beyond Stocks and Bonds
- —Timmer: Bitcoin's correlation with the S&P 500 is about 30%, with long-term Treasuries near zero
- —Bitcoin listed as a diversifier alongside gold, commodities, cash and leveraged loans
- —The break above $80,000 confirmed a double-bottom with a target near $100,000
- —BTC trades around $85,984, up 2.2% over 24 hours
Why it matters: Fidelity's case for Bitcoin as a diversifier strengthens the institutional allocation argument, though the signal is analytical rather than regulatory.
Source: U.Today